The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-10

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Russian wheat in st. Petersburg and
Odessa in 1888 was 81 IL, in 1884, 93
cents; 10 1855, 90 cents per bushel.
The average price Of rye in the same
towns was in 1889, rs cents in 1884,
20 cents, and in 1885, So cents per
bushel. According to the latest re-
ports there is no demand at all for
Russian wheat from abroad, the grain
of the last crop being OF inferior
quality. Business men in Russia re-
gard il as their governments duty TO
assist them in case Of trouble. Thus,
in 1886, the Exchanges of Warsaw
and Kief informed the government
that there was a crisis in the sugar in
dustry on account Of overprOduction,
suggesting at the same time that
IL the government would assist the
sugar men In disposipg of 10000, 900
pounds Of surplus sugar the trouble
would be overcome. Upon that the
government declared premium OF |
cent per pound on all sugar exported
abroad, and relieved it from internal
duty. Under such conditions, within
one year there was exported from
Russia $4,000, 900 pounds OF sugar.
As TO the practical results OF such a
measure, one may judge from the fol-
lowing facts: The government is
short over 5000, 900; $1,000, 900 be.
ing the premium, aud over 5000
600 being q loss Of duty on sugar. In
spite Of this the sugar manuiac-
turers have declared the usual divi-
dends to shareholders. Thourh the
export Of sugar has been increased
over three times, its price at home
not only did not rise but has been
falling. In spite Of all that, how
ever, the sugar producers did not
think at all Of diminishing their
production. The governments ef.
forts, though costly, being insult
cient 10 prevent crisis in the sugar
Industry, the premium on sugar ex-
ported has been stopped since July
last. After the sugar men come
the iron men with their claim for
government assistance. These, too,
talk Of q crisis, Tor they have on hand
thousands OF tons OF iron which they
cannot dispose Of. They ask the
government 10 loan them money I'M
der the guarantee OF their stock at 2
per cent. instead OF the usual per
cent. In order to protect the home
iron industry the Russian govern.
ment, about year ago, increased the
duty on imported iron % per cent.
English merchants, however, even
after baviog paid duty and freight,
sell their pig iron and steel rails in
Russia cheaper than the Russian
merchants do at home. Then comes
cotton. The cotton industry in Rus.
STA has reached great proportions.
There are now over 1000 mills and
factories turning out cotton fabrics
OF different kinds. valued at $3.50.
100000 per annum, and giving EN-
ployment TO over 200, 900 hands. Cot
ton is raised in Turkestan, Central
Asia and the Caucasus, but instead
OF being encouraged and developed
this important industry is neglected.
Russia pays annually for imported
cotton (mOstly from the United
States) about 75,0O0,000 roubles
in gold, which surpasses three
times the annual yield Of gold
in that country. Tho parties inter.
ested in the cotton industry suggest
10 the Russian government that il
should assist them in developing the
cotton plantations 10 the Merv oasis
the Caucasus and lurkcstsn, by ad
vancing them sufficient funds. They
say that on 100000 acres Of choice
land they would raise all tho cotton
Russia will need for her mills. IL Il
improbable, however, that the Rus.
sian government will venture in tbi,
new business after 40 many sigma
failures. Two great businesses Of
national importance-the building oil
railways aud the redemption Of land
from the former serI owners-wil
particularly drain the Imperial treas
ury for many years. For the former
item IL has spent since 1919 tho enor
nous sum Of l,ii0, 100000 rouble,
(sT20, 900, OOO). Finding that the off
cial running Of railways did not pay
the government has leased most o.
its railroads ~ private companies. III
TO this date the government used 4
guarantee q certain dividend OF
railroad shares, thus paying :,
the shareholders about $4,000,
600 per anuum. The railroad com
panies never pay in full their annua
debt 10 the government, their ar
rears usually amounting 10 SIS, 200,
900. Up 10 February !, 1851, III,
government had spent for rodomp
ton of lAud for the former sorii
1884 600, 900, which sum cannot be re
turned % the Treasury for man,
years 10 come. As the Russian Gov
eminent docs not conduct it, finance
on business principles. its credit i
very poor, be II peace or war. Tn,
imperial legal tendcr-the pape
rouble-is now worth only hall o
its face value in gold or silver
Though the government pays an
nually about siS,0OO,0O0 on accoun
Of the decline Of that paper rouble
yet IL il very slow In redeeming il
OF these roubles there are in Russi
,lyD, 900, 900 la 1881 the CIar, b.
his ukasc, ordered to redeem IN,
paper roubles as fast as they came /,
the Treasury, yet up 10 this date th,
government has redeemed burned
only "a 100000 roubles. As Russil
makes annually 4 loan Of over 2O0,
OO0. 900, roublos, aud that At 0, q, au,
even Z per cent. therefore the aboy,
rate OF redemption amounts practical
ly TO nothing. From the above facts /
is evident that Russia Is suffering iron
an overwhelming economic crisis
owing chiefly 10 n radical roorgan
iIation Of the State husbindry. Il
view, however, Of the immense area
population aud resources Of tina
country, u Il more than doubtful
whether national bankruptcy
threatening Il. And a. the patriot
ism Of most Russians il unbouudod
u Is certain that even today Ru,si
II a. dangerous a foe TO fight agains